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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Studend

I am considering bankruptcy. I am a university student with debt on my shoulders, currently in my second year of studies and I have two more years to go.
I want to file for personal bankruptcy, but I don`t know how that is going to affect my student loan from OSAP. Currently I don`t have to start payng it back until I have finished school. Thing is I don`t care if I get discharged on my student loan or not. I just need to know that I won`t have to start paying it back before I finish school. And, if I file for bankruptcy now, but need money from OSAP to pay for my 3rd and 4th year, will they give me the money? Thank you.

Posted from: Ontario

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One Response to “Studend”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

The best place to ask this question of is the Ontario Student Finance Board, but most student loan departments will continue to grant student loans irrespective of a bankruptcy if you have completed two years of studies and are continuing in the same degree program.

You are also correct to assume that the student loans would all survive a bankruptcy.